California § 6477 - Any association which, for the purpose of evading provisions of this division or
Full text of California Public Contract Code - PCC § 6477 — Any association which, for the purpose of evading provisions of this division or, with citation guidance and answers to common questions.
§ 6477. Any association which, for the purpose of evading provisions of this division or
Any association which, for the purpose of evading provisions of this division or any order of the commissioner, knowingly participates, directly or indirectly, in an exchange with another association of any loan, investment, or other asset held by either association in violation of any provision of this division or any order of the commissioner, shall, upon direction of the commissioner, set up and maintain a reserve in the full amount of the asset acquired and shall not include that reserve in its statutory net worth.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 6477
What does Public Contract Code - PCC § 6477 cover?
Section 6477 ("Any association which, for the purpose of evading provisions of this division or") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 6477?
A common citation format is "Public Contract Code - PCC § 6477" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 6477 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.